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AS 16 borrowing cost

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 May 2010 can any advise on following: one Company has purchased machinery worth Rs. 3 crore as on 01.06.2009 and put to use date is 25.03.2010, meantime company has paid intrest on term loan of Rs. 5 lacs and processing charg for term loan Rs. 4 lac, wheather the above said asset folls under the definition of qualifying asset, and interst and bank charges is eligible for capitalisation within the meaing of as 16. and what disclousre is to be made in audit report.
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Querist : Anonymous

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18 May 2010 hghg
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